How to KO Employee Turnover - Wellbeing Wisdom Tiny Bites

Do you manage people? Do you know what your turnover rate is?

Even before the pandemic, employees were nowhere near as likely to stay with a company for years and years, as their parents had. Post-pandemic, turnover has become a major problem in many industries.

Here’s how you find your turnover rate – take the number of employees who’ve left in the last 12 months, divide that number by the number of employees you have when you’re fully-staffed, multiply the result by 100 and you’ll end up with your turnover rate. If your number is 10% or less, yay you!

If it’s more than 10%, then you need to examine the factors that are driving the turnover.

• Is it compensation?
• Work load?
• Work hours?
• Not appreciating team members?  
• Poor communication?
• Poor hiring decisions?

List everything it could be, then brainstorm ideas to fix the problems you’ve identified. When you bring down the turnover rate, you stand a better chance of creating a welcoming, nurturing culture on your team, and that’s one people want to stay in.

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